Legal Question in Banking Law in India
i have a demand draft of january 2012 which was lost and i found it now fortunately. can i cash it now?
Asked on 9/08/13, 6:19 am
2 Answers from Attorneys
J. Radhakrishnan
independent Practice
Please check the legend on the D.D. If it states it is valid for some months only you have to get it retaliated .Otherwise you can encase it through your bank account.
Answered on 9/08/13, 7:08 am
Fca Prashant Chavan
Expert Edge LLP
08.09.2013
Dear Sir / Madam,
The validity period usually mentioned on a Demand Draft (DD) on or before 31st March, 2012 was six months which was subsequently reduced to three months thereafter. You will have to get the DD re-validated by the issuing bank. You should check the re-validation procedure with your bank.
Regards,
Answered on 9/08/13, 8:44 am
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